Value of local variables

[jpfeifer]

They are not saved. See

Computation of Composite Parameters

For practical purposes, it is mainly a matter of convenience. In both cases, you end up with a parameter computed as a composite of other parameters. However, there are slight differences. If you define an expression with # betaP, Dynare treats this as a local variable, but does not create a parameter betaP that would be stored in M_.params (you don’t define betaP in the params-block). The Dynare preprocessor upon running the model-file effectively substitutes the righthand side of this expressi…